NEWS & INSIGHTS
Preparing for the 31 March Fringe Benefits Tax (FBT) Deadline
For many small and medium-sized businesses, Fringe Benefits Tax (FBT) can be overlooked until the end of the financial year. However, preparing early helps avoid unexpected liabilities, compliance risks and last-minute administration. The FBT year runs from 1 April to...
Consumer Price Index (CPI) Rent Review
Self-Managed Superannuation Fund Commercial Property Related Party Lease Agreements A common strategy for SMSFs is to invest in commercial property and have your business lease the premises. To stay compliant the arrangement needs to be on arm’s length terms (this...
Tip of the month – Lock dates in Xero
It is important to lock periods in Xero once they are finalised to prevent any incorrect changes to take place and reports being changed once finalised. Changes can happen accidentally which can cause issues that may not be found until year end. You can change and...
Implications of subdivision
The tax implications and pitfalls of small-scale subdivisions You’ve got a block of land that’s perfect for a subdivision. The details have all been worked out with Council, the builders, and the bank. But, one important aspect has been left out; the tax implications....
Business succession
What is the end game for your business? Succession is not just a topic for a TV series or billionaire families, it’s about successfully transitioning your business and maximising its capital value for you, the owners. When it comes to generational succession of a...
Is a second job worth it?
In an Uber the other day, the driver revealed that he had become a driver to pay for his second mortgage. He invested in property but with interest rates spiking, the only way he could hold onto the property was to earn additional income. His “day job” starts early...
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